PFA Pension, Forsikringsaktieselskab

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 28, 2026), PFA Pension, Forsikringsaktieselskab reported 381 stock positions worth $33.2 billion. Its top holding was Nvidia (NVDA) at 7.5% of the portfolio, followed by Apple (AAPL, 6.6%) and Microsoft (MSFT, 4.6%). Compared with Q4 2025, it opened 16 new positions, sold out of 9, added to 134 and reduced 210. The biggest buy was Johnson & Johnson (JNJ, shares +1%) and the biggest sale Microsoft (MSFT, shares −0%).

Most Recent 13F
Q2 2026
Location
COPENHAGEN, G7
CIK
0001730073
Portfolio Value
$33.2B (Q1 2026)
SEC Filing
0001730073-26-000008 ↗ filed Apr 28, 2026

Holdings Value

0$10.0B$20.0B$30.0B$40.0B Q4 2025: $35.3B Q4 2025 Q1 2026: $33.2B $33.2B Q1 2026 Q2 2026: $39.4B Q2 2026

Holdings 381 stocks · $33.2B
NVDA Nvidia Corp. 7.46% 14,225,087 $2.5B Add +1.2%
AAPL Apple Inc. 6.59% 8,629,711 $2.2B Reduce -0.1%
MSFT Microsoft Corp. 4.59% 4,119,349 $1.5B Reduce -0.4%
AMZN Amazon.com Inc. 3.37% 5,374,012 $1.1B Add +0.7%
GOOGL Alphabet Inc. Class A 3.02% 3,492,060 $1.0B Reduce -0.0%
AVGO Broadcom Inc. 2.49% 2,678,289 $829.0M Add +1.3%
GOOG Alphabet Inc. Class C 2.39% 2,770,540 $794.8M Add +0.2%
META Meta Platforms Inc. Class A 2.10% 1,220,653 $698.4M Reduce -0.1%
TSLA Tesla Inc. 1.84% 1,645,619 $611.8M Reduce -0.0%
JPM JPMorgan Chase & Co. 1.30% 1,468,243 $431.9M Add +0.1%
LLY Eli Lilly & Co. 1.28% 463,041 $425.9M Add +0.7%
JNJ Johnson & Johnson 1.11% 1,503,351 $367.5M Add +1.0%
BRK.B Berkshire Hathaway Inc. Class B 0.98% 679,966 $325.8M Reduce -3.1%
WMT Walmart Inc. 0.94% 2,507,483 $311.6M Reduce -0.0%
V Visa Inc. Class A 0.89% 980,129 $296.2M Add +0.2%
MA Mastercard Inc. Class A 0.76% 502,535 $251.1M Add +0.3%
COST Costco Wholesale Corp. 0.73% 242,944 $242.1M Reduce -1.4%
ABBV Abbvie Inc. 0.72% 1,094,727 $238.1M Add +3.9%
NFLX Netflix Inc. 0.69% 2,378,589 $228.7M Reduce -0.0%
MU Micron Technology Inc. 0.64% 624,979 $211.1M Reduce -1.0%
LRCX Lam Research Corp. 0.63% 982,050 $209.8M Reduce -1.2%
CSCO Cisco Systems Inc. 0.62% 2,665,630 $206.8M Reduce -6.3%
AMD Advanced Micro Devices 0.60% 976,087 $198.6M Reduce -2.6%
LIN Linde PLC 0.59% 396,863 $196.7M Reduce -0.1%
PG The Procter & Gamble Co. 0.57% 1,320,983 $190.8M Reduce -6.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.57% 3,872,414 $188.8M Reduce -0.0%
GE General Electric filed as GE AEROSPACE 0.56% 650,323 $184.5M Reduce -0.1%
KO The Coca-Cola Co. 0.54% 2,373,412 $180.5M Reduce -7.2%
PLTR Palantir Technologies Inc. Class A 0.54% 1,227,560 $179.6M Reduce -0.1%
MRK Merck & Co. Inc. 0.53% 1,467,839 $176.6M Reduce -3.5%
AMAT Applied Materials Inc. 0.51% 491,505 $168.0M Add +5.6%
HD Home Depot Inc. 0.49% 497,679 $163.7M Reduce -0.0%
GS Goldman Sachs Group Inc. 0.48% 189,961 $160.7M Reduce -0.1%
BKR Baker Hughes Co. 0.47% 2,580,263 $157.5M Reduce -0.1%
T AT&T Inc. 0.46% 5,295,587 $153.5M Add +4.2%
VZ Verizon Communications Inc. 0.46% 3,034,950 $152.4M Add +4.5%
WFC Wells Fargo & Co. 0.44% 1,840,662 $146.5M Reduce -0.0%
ORCL Oracle Corp. 0.43% 982,190 $144.5M Add +6.2%
GEV GE Vernova Inc. 0.43% 164,704 $143.8M Add +12.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.43% 585,004 $141.8M Reduce -0.0%
KLAC KLA Corp. 0.42% 95,458 $140.6M Reduce -0.8%
ED Consolidated Edison Inc. 0.42% 1,235,992 $139.9M Add +8.3%
C Citigroup Inc. 0.41% 1,208,040 $137.0M Reduce -0.0%
HAL Halliburton Co. 0.40% 3,408,103 $132.9M Reduce -0.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.40% 1,367,364 $131.8M Add +0.0%
AXP American Express Co. 0.39% 433,726 $131.2M Reduce -2.9%
EXC Exelon Corp. 0.39% 2,662,807 $130.5M Reduce -2.3%
PEP Pepsico Inc. 0.39% 825,702 $128.2M Add +0.6%
UNH Unitedhealth Group Inc. 0.38% 472,733 $127.9M Reduce -0.1%
ATO Atmos Energy Corp. 0.37% 668,040 $123.4M Add +4.5%
NEE Nextera Energy Inc. 0.36% 1,305,502 $121.3M Reduce -0.1%
AMGN Amgen Inc. 0.36% 336,213 $118.3M Reduce -1.9%
MCD McDonald's Corp. 0.35% 378,296 $117.6M Reduce -15.9%
GILD Gilead Sciences Inc. 0.35% 824,573 $114.9M Reduce -0.3%
ECL Ecolab Inc. 0.34% 428,530 $114.0M Add +0.0%
PNC PNC Financial Services Group 0.34% 545,268 $113.5M Reduce -7.2%
INTC Intel Corp. 0.34% 2,557,485 $112.9M Reduce -0.0%
NI Nisource Inc. 0.34% 2,400,019 $112.0M Reduce -0.0%
ETN Eaton Corp. PLC 0.33% 305,393 $109.2M Reduce 0.0%
TMO Thermo Fisher Scientific Inc. 0.33% 220,719 $108.5M Reduce -0.2%
UNP Union Pacific Corp. 0.33% 446,533 $108.3M Reduce -2.9%
WM Waste Management Inc. 0.32% 467,975 $107.5M Add +0.0%
HON Honeywell International Inc. 0.32% 473,253 $107.0M Reduce -0.0%
MS Morgan Stanley 0.32% 646,606 $106.4M Reduce -0.0%
SCHW Schwab (charles) Corp. 0.32% 1,118,735 $105.1M Reduce -0.0%
BAP Credicorp Ltd. 0.32% 309,495 $105.0M Reduce 0.0%
PH Parker Hannifin Corp. 0.32% 117,054 $104.8M No change
CRM Salesforce Inc. 0.31% 551,406 $102.9M Reduce -0.1%
ADP Automatic Data Processing 0.31% 499,640 $101.5M Reduce -7.1%
NEM Newmont Corp. 0.30% 933,982 $101.1M Reduce -3.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.30% 630,570 $100.7M Reduce -6.3%
APH Amphenol Corp. Class A 0.30% 791,003 $99.9M Add +19.9%
PLD Prologis Inc. 0.30% 755,733 $99.9M Reduce -0.1%
COF Capital One Financial Corp. 0.30% 539,318 $98.4M Reduce -0.1%
BMY Bristol-Myers Squibb Co. 0.29% 1,595,854 $96.8M Add +3.0%
CMI Cummins Inc. 0.29% 179,493 $96.6M Reduce -4.5%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.29% 811,980 $96.3M Reduce -0.1%
WAB Wabtec Corp. 0.29% 385,374 $96.3M Reduce 0.0%
CTVA Corteva Inc. 0.29% 1,148,024 $96.1M Reduce 0.0%
ADI Analog Devices Inc. 0.29% 300,925 $95.7M Reduce -0.1%
HWM Howmet Aerospace Inc. 0.29% 414,715 $95.6M Reduce -0.1%
ABT Abbott Laboratories 0.29% 925,994 $95.1M Reduce -0.1%
CMCSA Comcast Corp. Class A 0.29% 3,307,815 $95.0M Add +0.1%
TXN Texas Instruments Inc. 0.28% 479,479 $93.1M Reduce -0.1%
HLT Hilton Worldwide Holdings Inc. 0.27% 299,458 $91.1M Reduce -21.4%
DE Deere & Co. 0.27% 160,078 $90.2M Reduce 0.0%
ISRG Intuitive Surgical Inc. 0.27% 193,458 $89.2M Reduce -0.1%
QCOM Qualcomm Inc. 0.27% 691,853 $89.1M Reduce -3.4%
SPGI S&P Global Inc. 0.27% 209,359 $89.0M Reduce -13.2%
PGR Progressive Corp. 0.26% 442,989 $87.8M Reduce -1.4%
EQIX Equinix Inc. 0.26% 89,481 $87.7M Reduce -0.1%
SYK Stryker Corp. 0.26% 265,023 $87.1M Reduce -0.2%
PFE Pfizer Inc. 0.26% 3,071,444 $86.2M Reduce -0.1%
WDC Western Digital Corp. 0.26% 318,651 $86.2M Add +13.8%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.26% 3,127,870 $85.5M Reduce -0.0%
RSG Republic Services Inc. 0.25% 385,445 $84.4M Reduce 0.0%
UBER Uber Technologies Inc. 0.25% 1,172,976 $84.4M Reduce -0.0%
GM General Motors Co. 0.25% 1,127,881 $84.0M Reduce 0.0%
ACN Accenture PLC Class A 0.25% 418,290 $82.9M Reduce -0.1%
BLK BlackRock Inc. 0.25% 85,351 $82.1M Reduce -0.1%

Show all 381 holdings

Portfolio Sells Q4 2025 → Q1 2026
MSFT Microsoft Corp. Reduce -0.4% 4.59% −1.13
TSLA Tesla Inc. Reduce -0.0% 1.84% −0.28
META Meta Platforms Inc. Class A Reduce -0.1% 2.10% −0.21
CRM Salesforce Inc. Reduce -0.1% 0.31% −0.11
AAPL Apple Inc. Reduce -0.1% 6.59% −0.10
INTU Intuit Inc. Reduce -0.1% 0.20% −0.09
SPGI S&P Global Inc. Reduce -13.2% 0.27% −0.09
ADP Automatic Data Processing Reduce -7.1% 0.31% −0.09
PLTR Palantir Technologies Inc. Class A Reduce -0.1% 0.54% −0.09
GOOGL Alphabet Inc. Class A Reduce -0.0% 3.02% −0.09
QCOM Qualcomm Inc. Reduce -3.4% 0.27% −0.08
AXP American Express Co. Reduce -2.9% 0.39% −0.08
BSX Boston Scientific Corp. Reduce -0.1% 0.17% −0.08
COF Capital One Financial Corp. Reduce -0.1% 0.30% −0.08
IBM Intl Business Machines Corp. Reduce -0.0% 0.43% −0.07
NOW ServiceNow Inc. Reduce -0.1% 0.18% −0.07
ACN Accenture PLC Class A Reduce -0.1% 0.25% −0.07
CTSH Cognizant Tech Solutions-A Reduce -4.5% 0.18% −0.06
UNH Unitedhealth Group Inc. Reduce -0.1% 0.38% −0.06
BKNG Booking Holdings Inc. Reduce -0.7% 0.25% −0.05
WFC Wells Fargo & Co. Reduce -0.0% 0.44% −0.05
TEAM Atlassian Corp. Class A Reduce 0.0% 0.04% −0.05
SYF Synchrony Financial Reduce -7.0% 0.19% −0.05
CAH Cardinal Health Inc. Reduce -35.6% 0.11% −0.05
ISRG Intuitive Surgical Inc. Reduce -0.1% 0.27% −0.05
ABT Abbott Laboratories Reduce -0.1% 0.29% −0.04
WDAY Workday Inc. Class A Reduce 0.0% 0.08% −0.04
HOOD Robinhood Markets Inc. Class A Reduce -0.1% 0.08% −0.04
DASH DoorDash Inc. Class A Reduce -0.1% 0.09% −0.04
HLT Hilton Worldwide Holdings Inc. Reduce -21.4% 0.27% −0.04
ABNB Airbnb Inc. Class A Reduce -23.1% 0.12% −0.04
BAC Bank of America Corp. Reduce -0.0% 0.57% −0.04
MCD McDonald's Corp. Reduce -15.9% 0.35% −0.04
TMO Thermo Fisher Scientific Inc. Reduce -0.2% 0.33% −0.04
BX Blackstone Inc. Reduce 0.0% 0.14% −0.04
FOXA Fox Corp. Class A Reduce -3.5% 0.16% −0.04
GDDY GoDaddy Inc. Class A Reduce 0.0% 0.08% −0.04
EXPE Expedia Group Inc. Reduce -18.3% 0.08% −0.04
PYPL PayPal Holdings Inc. Reduce -6.0% 0.11% −0.03
PINS Pinterest Inc. Class A Reduce -11.5% 0.06% −0.03
MET Metlife Inc. Reduce -8.0% 0.20% −0.03
PAYX Paychex Inc. Reduce -0.1% 0.19% −0.03
COR Cencora Inc. Reduce -16.0% 0.14% −0.03
PGR Progressive Corp. Reduce -1.4% 0.26% −0.03
WRB WR Berkley Corp. Reduce -14.1% 0.16% −0.03
DHR Danaher Corp. Reduce -0.3% 0.17% −0.03
HCA HCA Healthcare Inc. Reduce -19.5% 0.15% −0.03
EQH Equitable Holdings Inc. Reduce -0.1% 0.11% −0.03
CBRE CBRE Group Inc. Class A Reduce -0.1% 0.18% −0.02
CRWD CrowdStrike Holdings Inc. Class A Reduce -0.0% 0.16% −0.02

Portfolio Buys Q4 2025 → Q1 2026
JNJ Johnson & Johnson Add +1.0% 1.11% +0.23
GLW Corning Inc. Add +236.9% 0.21% +0.17
AMAT Applied Materials Inc. Add +5.6% 0.51% +0.16
GEV GE Vernova Inc. Add +12.0% 0.43% +0.16
VZ Verizon Communications Inc. Add +4.5% 0.46% +0.12
WDC Western Digital Corp. Add +13.8% 0.26% +0.12
STX Seagate Technology Holdings Add +83.7% 0.18% +0.12
HEI Heico Corp. Add +557.0% 0.14% +0.11
T AT&T Inc. Add +4.2% 0.46% +0.10
ED Consolidated Edison Inc. Add +8.3% 0.42% +0.10
SPG Simon Property Group Inc. Add +87.1% 0.16% +0.08
TER Teradyne Inc. Add +59.4% 0.13% +0.08
VRT Vertiv Holdings Co. Class A Add +11.1% 0.16% +0.07
ATO Atmos Energy Corp. Add +4.5% 0.37% +0.07
TGT Target Corp. Add +12.0% 0.17% +0.05
BMY Bristol-Myers Squibb Co. Add +3.0% 0.29% +0.05
PEP Pepsico Inc. Add +0.6% 0.39% +0.05
EME Emcor Group Inc. Add +0.2% 0.22% +0.05
APH Amphenol Corp. Class A Add +19.9% 0.30% +0.05
CB Chubb Ltd. Add +10.9% 0.25% +0.04
FIX Comfort Systems USA Inc. Add +18.9% 0.10% +0.04
MRVL Marvell Technology Inc. Add +14.1% 0.16% +0.04
KVUE Kenvue Inc. Add +82.9% 0.09% +0.04
FLEX Flex Ltd. Add +71.6% 0.09% +0.04
DELL Dell Technologies -C Add +0.1% 0.15% +0.04
RPRX Royalty Pharma PLC Class A Add +0.1% 0.16% +0.04
TPR Tapestry Inc. Add +41.3% 0.09% +0.04
DD Dupont DE Nemours Inc. Add +87.5% 0.06% +0.03
INSM Insmed Inc. Add +137.5% 0.06% +0.03
ABBV Abbvie Inc. Add +3.9% 0.72% +0.03
WM Waste Management Inc. Add +0.0% 0.32% +0.03
FSLR First Solar Inc. Add +114.4% 0.06% +0.03
Q Qnity Electronics Inc. Add +12.6% 0.07% +0.03
JBL Jabil Inc. Add +0.9% 0.14% +0.03
ROK Rockwell Automation Inc. Add +28.4% 0.13% +0.03
NET Cloudflare Inc. Class A Add +17.6% 0.11% +0.02
CBOE Cboe Global Markets Inc. Add +28.9% 0.07% +0.02
ECL Ecolab Inc. Add +0.0% 0.34% +0.02
BBY Best Buy Co. Inc. Add +425.7% 0.03% +0.02
ALNY Alnylam Pharmaceuticals Inc. Add +68.6% 0.06% +0.02
SBUX Starbucks Corp. Add +0.0% 0.19% +0.02
MSCI MSCI Inc. Add +32.5% 0.08% +0.02
MCHP Microchip Technology Inc. Add +46.8% 0.05% +0.02
ZTS Zoetis Inc. Add +12.6% 0.16% +0.02
CL Colgate-Palmolive Co. Add +238.4% 0.02% +0.01
DAL Delta Air Lines Inc. Add +49.5% 0.04% +0.01
NTAP Netapp Inc. Add +11.3% 0.14% +0.01
TRV The Travelers Cos Inc. Add +0.8% 0.23% +0.01
HSY The Hershey Co. Add +8.4% 0.06% +0.01
ROST Ross Stores Inc. Add +113.0% 0.02% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 419$39.4BNVDA, AAPL, MSFT, AMZN, GOOGL
Q1 2026 381$33.2BNVDA, AAPL, MSFT, AMZN, GOOGL
Q4 2025 373$35.3BNVDA, AAPL, MSFT, AMZN, GOOGL